연료로서의 액화천연가스 시장 - 세계 산업 규모, 점유율, 동향, 기회, 예측 : 최종사용자별, 밸류체인별, 지역별 및 경쟁(2021-2031년)

The Global Liquefied Natural Gas (LNG) as a Fuel Market is projected to expand from USD 43.17 Billion in 2025 to USD 71.96 Billion by 2031, reflecting a CAGR of 8.89%. As a fuel source, LNG consists of natural gas cooled to a liquid form, serving as a cleaner-burning substitute for heavy-duty transport and maritime propulsion. This market growth is primarily underpinned by strict international environmental mandates aimed at lowering sulfur and nitrogen oxide emissions, combined with the shipping industry's strategic pivot toward decarbonization. Additionally, the widespread availability of natural gas and its cost-competitiveness relative to traditional marine distillates strengthen its status as a mature energy option for global logistics.

According to SEA-LNG, the operational global fleet of LNG-fueled vessels grew by more than 33% in 2024, reaching a total of 638 units. Despite this strong rate of adoption, the market faces a major obstacle regarding methane slip, a process wherein unburned methane is released from engines. This phenomenon poses a risk to climate mitigation objectives and could potentially trigger tighter regulatory controls on future LNG applications.

Market Driver

The surging adoption of LNG-fueled vessels within the maritime sector acts as a primary catalyst for market growth, as shipowners increasingly prioritize this technology to satisfy tightening decarbonization requirements. This demand is defined by a strategic preference for dual-fuel tonnage, which ensures immediate regulatory compliance alongside operational flexibility. Recent procurement activities highlight this momentum, with LNG maintaining dominance over emerging competitors like methanol or ammonia. For instance, DNV's 'Alternative Fuels Insight' update from August 2025 noted that LNG-fueled vessels comprised 22 of the 28 new alternative-fuel orders in July alone, confirming the technology's strong standing in the newbuild sector. Furthermore, Ship & Bunker reported in 2025 that LNG dual-fuel configurations accounted for 70% of all alternative-fueled tonnage ordered globally the previous year, demonstrating a clear market consensus on LNG as the leading transitional solution.

A second critical driver is the rapid expansion of global bunkering and refueling infrastructure, which directly reduces logistical risks and improves the commercial feasibility of LNG-powered fleets. Energy majors and port authorities are aggressively increasing LNG availability at major maritime hubs to alleviate "range anxiety" for operators and streamline trade route planning. Investments are extending beyond fixed terminals to include a growing number of bunker barges, ensuring fuel access matches rising vessel density. According to the 'View from the Bridge' report by SEA-LNG in January 2025, LNG bunkering services are available in approximately 198 ports globally, with plans to expand to another 78 locations. This robust supply chain development supports the growing fleet, fostering a cycle of supply security and rising demand throughout the global logistics network.

Market Challenge

Methane slip constitutes a significant barrier to the growth of the Global LNG as a Fuel Market, as it compromises the environmental and economic justification for its adoption. This issue, where unburned methane escapes from engines during combustion, notably raises the greenhouse gas profile of vessels and conflicts with the shipping industry's decarbonization mandates. Because methane has a far greater warming potential than carbon dioxide, its release subjects shipowners to increased regulatory scrutiny and financial liabilities. Consequently, uncertainty regarding future compliance costs and potential emissions penalties leads investors to delay fleet renewal decisions, fearing that LNG assets could become stranded or operationally costlier than zero-emission alternatives."The gap between theoretical performance and actual operations further exacerbates this market restraint, prompting regulators to take corrective action. In 2024, the International Council on Clean Transportation reported that real-world testing of common low-pressure dual-fuel marine engines showed an average methane slip of 6.4%, significantly exceeding the 3.1% figure currently assumed by European Union regulators. This evidence of emissions surpassing expectations threatens to elevate the carbon tax liability for operators under developing trading schemes, thereby reducing the long-term commercial viability of LNG as a marine fuel solution.

Market Trends

The integration of Bio-LNG and Renewable Synthetic Methane marks a pivotal evolution in the market, transforming LNG from a transitional fossil fuel into a long-term decarbonization pathway. This trend involves the increasing uptake of drop-in renewable fuels that require no modifications to existing dual-fuel engines or infrastructure, effectively countering the "fossil lock-in" argument while preserving asset value. Production capabilities are scaling up rapidly to ensure renewable supplies meet the rising needs of the transport and maritime sectors. For example, the European Biogas Association's 'Statistical Report 2024' from December 2024 indicates that Europe's installed biomethane production capacity reached 6.4 billion cubic meters per year by the first quarter of 2024, establishing a strong foundation for integrating green gas into the global energy mix.

Simultaneously, the market is experiencing a significant rise in LNG-powered heavy-duty commercial vehicle fleets, diversifying demand beyond the maritime sector. This expansion is particularly evident in high-growth logistics hubs where favorable price differentials between natural gas and diesel, combined with strict nitrogen oxide emission limits, serve as drivers for fleet operators to convert heavy tonnage assets. Such land-based adoption establishes a resilient secondary market for the fuel, protecting suppliers from shipping demand volatility and stabilizing regional supply chains. According to a Shell article titled 'Behind the rise of LNG trucks in China' from November 2025, sales of heavy-duty natural gas trucks in China reached 178,200 units in 2024, reflecting a decisive shift in capital investment toward gas-based road logistics.

Key Market Players

• QatarEnergy
• Cheniere Energy, Inc.
• Chevron Corporation
• Exxon Mobil Corporation
• Shell PLC
• TotalEnergies SE
• Woodside Energy Group Ltd.
• ConocoPhillips Co.
• Eni S.p.A.
• Equinor ASA

Report Scope

In this report, the Global Liquefied Natural Gas (LNG) as a Fuel Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Liquefied Natural Gas (LNG) as a Fuel Market, By End User

• Residential
• Commercial
• Industrial
• Others

Liquefied Natural Gas (LNG) as a Fuel Market, By Value Chain

• Production
• Liquefaction
• Transportation
• Storage
• Regasification
• Others

Liquefied Natural Gas (LNG) as a Fuel Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Liquefied Natural Gas (LNG) as a Fuel Market.

Available Customizations:

Global Liquefied Natural Gas (LNG) as a Fuel Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Liquefied Natural Gas (LNG) as a Fuel Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By End User (Residential, Commercial, Industrial, Others)
  • 5.2.2. By Value Chain (Production, Liquefaction, Transportation, Storage, Regasification, Others)
  • 5.2.3. By Region
  • 5.2.4. By Company (2025)
• 5.3. Market Map

6. North America Liquefied Natural Gas (LNG) as a Fuel Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By End User
  • 6.2.2. By Value Chain
  • 6.2.3. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By End User
      • 6.3.1.2.2. By Value Chain
  • 6.3.2. Canada Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By End User
      • 6.3.2.2.2. By Value Chain
  • 6.3.3. Mexico Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By End User
      • 6.3.3.2.2. By Value Chain

7. Europe Liquefied Natural Gas (LNG) as a Fuel Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By End User
  • 7.2.2. By Value Chain
  • 7.2.3. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By End User
      • 7.3.1.2.2. By Value Chain
  • 7.3.2. France Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By End User
      • 7.3.2.2.2. By Value Chain
  • 7.3.3. United Kingdom Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By End User
      • 7.3.3.2.2. By Value Chain
  • 7.3.4. Italy Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By End User
      • 7.3.4.2.2. By Value Chain
  • 7.3.5. Spain Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By End User
      • 7.3.5.2.2. By Value Chain

8. Asia Pacific Liquefied Natural Gas (LNG) as a Fuel Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By End User
  • 8.2.2. By Value Chain
  • 8.2.3. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By End User
      • 8.3.1.2.2. By Value Chain
  • 8.3.2. India Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By End User
      • 8.3.2.2.2. By Value Chain
  • 8.3.3. Japan Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By End User
      • 8.3.3.2.2. By Value Chain
  • 8.3.4. South Korea Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By End User
      • 8.3.4.2.2. By Value Chain
  • 8.3.5. Australia Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By End User
      • 8.3.5.2.2. By Value Chain

9. Middle East & Africa Liquefied Natural Gas (LNG) as a Fuel Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By End User
  • 9.2.2. By Value Chain
  • 9.2.3. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By End User
      • 9.3.1.2.2. By Value Chain
  • 9.3.2. UAE Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By End User
      • 9.3.2.2.2. By Value Chain
  • 9.3.3. South Africa Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By End User
      • 9.3.3.2.2. By Value Chain

10. South America Liquefied Natural Gas (LNG) as a Fuel Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By End User
  • 10.2.2. By Value Chain
  • 10.2.3. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By End User
      • 10.3.1.2.2. By Value Chain
  • 10.3.2. Colombia Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By End User
      • 10.3.2.2.2. By Value Chain
  • 10.3.3. Argentina Liquefied Natural Gas (LNG) as a Fuel Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By End User
      • 10.3.3.2.2. By Value Chain

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Liquefied Natural Gas (LNG) as a Fuel Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. QatarEnergy
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Cheniere Energy, Inc.
• 15.3. Chevron Corporation
• 15.4. Exxon Mobil Corporation
• 15.5. Shell PLC
• 15.6. TotalEnergies SE
• 15.7. Woodside Energy Group Ltd.
• 15.8. ConocoPhillips Co.
• 15.9. Eni S.p.A.
• 15.10. Equinor ASA

16. Strategic Recommendations

17. About Us & Disclaimer